Ether Gains Beat Bitcoin After Network Upgrade

(Bloomberg) -- Bitcoin’s biggest rival Ether is again pulling away after an upgrade to its underlying network that signals a more constrained supply of the token. The second-largest digital currency touched a two-month high this week, pushing Ether’s gains for the year to some 280%, well ahead of Bitcoin’s 40% advance in the same period after tumbling from a record of almost $65,000 in April. The software upgrade also shows the Ethereum network is well-poised to make further changes that will reduce its energy use substantially, founder Vitalik Buterin said.

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